GBP futures: rising odds for extra gains

CME Group’s advanced figures for GBP futures markets noted open interest rose by more than 2.3K contracts on Friday vs. Thursday’s final 205,540 contracts. It was the first build after six consecutive daily pullbacks. In the same line, volume rose following two consecutive drops, this time by nearly 42.4K contracts.

GBP/USD extra gains will face key week

Cable’s ongoing rally looks poised to continue amidst the recent uptick in open interest and volume. However, this week will be key regarding the Brexit negotiations and this carries the potential to undermine the upbeat sentiment around the Sterling.